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• An increase in transfers ($493,867) is due to repayment to the General Fund of a portion of the Golf Course Development and Infrastructure Loan from the Happy Valley Specific Plan Fees. The remaining loan totals $7,507,633. • Expenditure/Reserve changes ($396,130) are mainly due to a decrease of $442,069 in the budget for various completed projects and an increase for the purchase of the Fire Training Tower Air Compressor ($45,009). Table 3 Miscellaneous CIP Funds 2011/12FY Recommended 2011/12FY Adjusted Midyear Midyear Budget Adjustments Budget Beginning Fund Balance $ 14,191,488 $ 45,009 $ 14,236,497 Revenues 560,862 (74,910) 485,952 Transfers In 2,614,829 - 2,614,829 Transfers Out 75,000 493,867 568,867 Expenditures/Reserves 11,475,898 (396,130) 11,079,768 Ending Fund Balance $ 5,816,281 $ (127,638) $ 5,688,643 Parks CIP Recommended midyear adjustments to the Parks CIP funds are shown in Table 4 and include an increase in beginning fund balance of $103,295 and decreases in projected revenues of$370,993 and project expenditures/reserves of $73,337. • The beginning fund balance was increased ($103,295) to reflect Developer Funds collected to date by the City for Parks CIP projects. • Revenue decreases ($370,993) include a decrease in projected Park Dedication Fees ($256,503) and interest income ($114,490). • Expenditure/Reserve decreases ($73,337) include: o budget reductions in completed projects ($177,842) for the Bernal Creek Restoration Project ($75,732) and the Marilyn Kane Trail Project ($102,110) and the transfer of these monies to a newly created fund (Marilyn Kane Trail Reserve Fund) to account for future maintenance and improvements to the Marilyn Kane Trail. These reductions are partially offset by o an increase ($104,505) in the Bernal Property Improvements Phase II - Reserve reflecting the inclusion of Developer Funds not previously accounted for in the CIP and interest earnings on those amounts. Page 4 of 6